In this article, we look at whether ToolChain could bring technology to the masses.
We always hear a lot about projects including VeChain partnering with big names. Examples being DNVGL, BMW, PwC and others ().
According to statistics from the , over 90% of firms worldwide are Micro-, Small and -sized Enterprises (MSMEs).
VeChain’s ToolChain seems to recognise their importance and is bringing its technology to them.
What is ToolChain?
ToolChain is VeChain’s latest product. It was announced at the VeChain Summit 2019 (Click for a recap).
ToolChain is a kit containing all the necessary hardware, software and service protocols to onboard a business onto the VeChainThor .
There are 3 Versions of the ToolChain kit: Standard, Developer and Channel Partner. This is so that businesses with any levels of technical capability can use VeChain’s technology.
Standard Version
The Standard Version provides standarized application modules, tools and Internet of Things (IoT) devices. It was designed for MSMEs without the capability to develop their own -based lifecycle management solution. Businesses can be onboarded onto the VeChainThor within 30 minutes.
Developer Version
The Developer Version is designed for enterprise with stronger technical capabilities. It will allow enterprises to develop various applications based on the VeChainThor tailored to their needs.
Channel Partner Version
Channel Partners will be able to have independent deployment and multi-dimensional customisation of ToolChain.
ToolChain at a glance
The ToolChain hardware kit contains:
- QR code printer and application software to print QR codes.
- NFC writer and software to create digital labels on NFC tags.
- IoT devices, RFID chips and sensor devices
- Handheld terminal devices which will enable ToolChain apps to bond and activate NFC chips, and transfer the data on them.
In terms of software:
- ToolChain Admin Center: this app is a command centre. One of its features is that business owners can use this software to configure NFC and/or RFID chips. The Company can ship these NFC and/or RFID chips directly to businesses.
- VeChain Work App: this app allows business owners or third party manufacturers to “bind” the physical product to the NFC/RFID chip.
- VeChain Pro app: this app is already available to download. It will be pre-loaded onto the NFC scanner. It allows anyone to view the entire story of the product including proof of authenticity and origin.
Examples of ToolChain in use
One of ToolChain’s notable users is SBTG Surplus & Co., a custom sneaker artist. SBTG uses NFC chips embedded into its limited edition sneakers. Customers can verify the sneakers’ authenticity, origin and other information by scanning them with the VeChain Pro app.
SBTG have recently partnered with Adidas and HBO Asia to produce limited edition Game of Thrones sneakers. These sneakers are powered with VeChain Technology.
Problems with authenticity and quality assurance
MSMEs generally lack technical or financial resources. So they have difficulty in ensuring their products’ authenticity and quality. They are also vulnerable towards counterfeiters and bad actors in the supply chain. This in turn could seriously damage their reputation.
Even for products from larger corporations, product authenticity and quality assurance is not transparent. We as consumers do not have easy access to information on the supply chain of our products.
Consumers still rely on outdated authentication methods. This is true even for expensive luxury items. As an example, for luxury watches we would compare an items’ appearance or check its serial number. Meanwhile there are official databases of serial numbers. The numbers are only etched onto the watch and counterfeiters can easily copy this.
Thus, authenticating a luxury watch requires significant expertise and experience. Whilst counterfeiters are always trying to make their watches look more authentic.
Can ToolChain bring mass adoption through MSMEs?
ToolChain can be a simple and cost effective supply chain management solution for MSMEs. ToolChain could finally give MSMEs the same ability as large corporations to ensure product quality.
As mentioned above, most of the world’s businesses are MSMEs. ToolChain could finally bring to a substantial but overlooked group
Moreover, will be able to scan the NFC/RFID chip embedded into the product and see information pertaining to their exact item.
If you want to learn more about VeChain, check out our guide, .
Want to find out more interesting happenings at the VeChain Summit? Check out these videos below!
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Published at Tue, 30 Apr 2019 12:37:04 +0000
